Analyst

About the Role

Join the CIO MSR Hedging team, managing interest rate risk for a global financial institution. The Treasury and Chief Investment Office (TCIO) at JPMorgan Chase & Co. is responsible for firm-wide asset and liability management, capital, balance sheet, liquidity, and funding strategy. TCIO oversees an $800 billion global investment securities portfolio. As an Analyst in the CIO MSR Hedging Team in New York City, you will gain knowledge of the US rates and mortgage markets and support hedging strategies for Chase's Mortgage Servicing Rights. The team manages this risk using linear (Treasury, interest rate swaps, futures) and non-linear (options, board options) rates products, and mortgage products. Collaboration with the Chase Home Lending Capital Markets Group is key.

Key Responsibilities

• Develop knowledge of the US rates and mortgage markets, identifying value propositions and areas of opportunity.
• Support senior Portfolio Manager to formulate and execute hedging strategies.
• Develop and maintain accurate analytics, modeling, and valuation frameworks for linear and options-based fixed income instruments, including embedded and explicit options.
• Build and maintain relationships with trading counterparties.
• Work with business partners across lines of business on collaborative hedging and risk-management projects.

Requirements & Tech Stack

• Strong quantitative and analytical skills.
• Solid grounding in fixed income securities, including but not limited to, rates, mortgages, and derivatives, with the ability to build frameworks and tools to analyze them.
• Ability to comprehend complex concepts and models, with a willingness to dive into details to find answers.
• Self-starter who can succeed independently in a dynamic, fast-paced environment, as well as collaboratively within a team.
• Maturity and the ability to succeed in a dynamic, fast-paced, and open trading-desk environment.

Qualifications

• 0+ years of experience working in finance, markets, or quantitative fields.
• Understanding of interest rate or mortgage products, including options and embedded options.
• Prior sell-side markets exposure such as trading desk experience, trading rotations, or markets-focused internships is a strong plus.
• Knowledge and aptitude in programming skills.
• Strong understanding of trading and markets.